Whether you're a LTD company or a sole trader, it's likely that you have multiple tax obligations to meet. For LTD companies, this could include VAT, PAYE, Corporation Tax and self-assessments. As a sole trader, you will have self-assessment obligations and potentially VAT. These obligations may have different deadlines and payment frequencies, so it's important to stay organised and aware of each one.
To make things easier, all relevant tax dates are listed under the "My Tasks" tab on your account. This will help you keep track of when each tax obligation is due and ensure that you do not miss any important deadlines. These are also viewable on your homepage for extra visibility!
If you do receive a tax reminder from us, it is important that you take action promptly. You should review the reminder to understand what tax obligation it relates to and the deadline for payment. You can then take the appropriate action.
For VAT Returns - You can click into these under the "My Tasks" tab to review them and once you're happy, the "Submit Return" button can be found under the "Totals" tab in the Return.
For PAYE payments - If you have a payroll setup and any PAYE/NIC is owed, you must pay this directly to HMRC via bank transfer.
Corporation Tax Returns - Contact your accountant for assistance in filing your annual accounts & CT600.
Self-Assessment Returns - Contact your accountant for assistance in filing your self assessment.
It's important to note that none of these payments are made automatically. You must pay these taxes to HMRC via bank transfer with the appropriate reference codes. Once you have made the payment, you can remove the reminder from your account by clicking "Mark as paid." This will ensure that you do not receive any further reminders for that particular tax obligation.